Chinese state owned automaker Huachen Automotive Group has been declared bankrupt and has entered a debt restructuring programme, according to local reports. The company, headquartered in the north eastern Liaoning province, owns four listed companies including Brilliance China Automotive Holdingswhich has a 50:50 joint venture with BMW Group. Huachen Automotive, in a statement on 16November,…
One of Australia’s best-known builders has declared insolvency and is set to go into administration. Grocon Group has delivered several iconic developments in recent decades, including Melbourne’s casino, Eureka Tower and the Rialto Towers. On Friday after speculation it was in trouble, the company announced it was putting the group’s legacy construction companies into administration.…
Executive summary On a UK companys insolvency, the UK tax authority (HMRC) will become a preferential creditor in respect of certain unpaid taxes (Crown Preference) with effect from 1 December 2020. Despite lobbying against the move (including in light of the COVID-19 pandemic), the UK government has persisted with the change, perhaps in an attempt…
Wednesday, November 18, 2020 Executive Summary On a UK companys insolvency, the UK tax authority (HMRC) will become a preferential creditor in respect of certain unpaid taxes (Crown Preference) with effect from 1 December 2020. Despite lobbying against the move (including in light of the COVID-19 pandemic), the UK government has persisted with the change,…
Banco Santander has released a statement confirming its acquisition of tech assets from insolvent payment processor Wirecard. Although not confirmed in the companys official document, other sources report the total figure exchange as being 100m. Wirecard, which declared insolvency earlier in the year following revelations that it had misplaced over US$2.3bn in funds, was formerly…
Colin Llewellyn, 56, siphoned off cash from the 1st Bayston Hill Scouts in Shrewsbury to fund his gambling problem – money the children had painstakingly raised for a trip to a summer camp in Bern. Llewellyn, a scout master of 27 years, was subject of a proceeds of crime act hearing at Shrewsbury Crown Court…
November 18, 2020 Santander has acquired the core European business of collapsed German payments provider Wirecard. The Spanish banking group is paying 100 million for the business, which comprises the European payments platform and technology assets, according to the Financial Times. Wirecard was declared insolvent in June after a $2 billion accountancy scandal uncovered by…
Brynne Edelsten reveals surprising new job after going bankrupt and ‘living on a budget’ following divorce from multi-millionaire Geoffrey Has Brynne Edelsten served you at a bar recently? Email: [email protected] By Candice Jackson For Daily Mail Australia Published: 09:43 AEDT, 18 November 2020 | Updated: 10:31 AEDT, 18 November 2020 View comments She was once…
Totalbrand Limited (the company) entered creditors’ voluntary liquidation on 28 July 2016. The liquidators of the company assigned certain rights of action to Cage Consultants Limited (CCL) under s.246ZD of the 1986 Insolvency Act (IA86). These rights of action included claims against the directors of the company for misfeasance, and claims under IA86 relating to…
(Source: resort-elbrus.ru) The economic crisis in the Russian Federation has resulted in the central government further tightening its control over the republics of the North Caucasus. Ingushetia now faces a loss of its financial autonomy. Similarly, the property rights for a key tourist enterprise in Kabardino-Balkaria have been handed over to a federally owned company.…